Hung Yen Province prioritizes high-tech and supporting industries

Hung Yen Province has attracted over 300 SI projects covering various sectors

So far, Hung Yen has received 2,122 domestic and foreign investment projects, with a total registered capital of over VND259 trillion and more than US$6 billion. These include over 300 SI projects covering various sectors.

In the mechanical engineering and manufacturing sector, production mainly focuses on molding, stamping, casting, precision machining, cutting tools, components, power machinery equipment, agricultural machinery, and structural steel.

According to the Provincial Department of Industry and Trade, most SI enterprises in Hung Yen are developing relatively well, supplying a large volume of products for key domestic industries and the global value chain, contributing to increasing the localization rate of industrial products.

In the electricity and electronics industry, SI enterprises produce electronic components, microchips, electronic component materials, electro-mechanical parts, and batteries for laptops and mobile phones. Those in the textile and garment industry manufacture fiber, various types of woven fabrics, embroidery threads, and accessories, among other products.

SI products for the leather and footwear industry include leather products, shoe soles, and tanning chemicals. SI enterprises in the automotive industry produce engines, engine components, automotive parts, chassis, body frames, doors, wiring, lighting assemblies, and plastic and rubber components for automobiles. The high-tech enterprises manufacture electronic components, microchips, and high-quality plastic parts to develop devices and produce various precision plastic details.

Outstanding SI enterprises of Hung Yen Province include Kyocera Vietnam, Fancy Industrial Vietnam, DSM Vietnam, ANNEX Electronics, Canon Electronics Vietnam, MINGHAO Electronics Vietnam, HOYA GLASS DISK Vietnam, Fancy Creation Vietnam, and Shin-Etsu Electronic Materials Vietnam, which produce electrical and electronic products within the value chain. Other companies, such as Tsukuba Vietnam, LTK Vietnam, Vikom, P&P Mechanical Company, Hoang Hac Phuong Bac, Konishi Vietnam, and Palfinger Marine Vietnam, manufacture mechanical and fabrication products.

The CEO of An Mi Tools Co., Ltd., located in Hung Yen Province’s Pho Noi B Textile and Garment Industrial Park, shared, “The mechanical engineering and manufacturing sector has significant potential for development. Domestic enterprises are capable of manufacturing products for supply to the global value chain, which can replace many imported products. Therefore, our company has identified its position in the value chain and is investing in the right direction.”

Under Hung Yen Province’s development orientation, by 2025, SI will become a key sector of the provincial economy, capable of manufacturing and supplying components and parts for certain domestic industries. By 2030, SI will gradually integrate into the global supply chains of major multinational corporations. Specifically, in the field of mechanical engineering, by 2025, the focus will be on producing molds, stamping, casting, jigs, precision machining, machine components, and parts for power equipment and agricultural machinery, targeting an annual output of 500,000-600,000 units, along with approximately 150,000 tonnes of fabricated steel products. By 2030, the production of metal mechanical components is expected to reach 1,000,000-1,200,000 units, and fabricated steel output will increase to 250,000-300,000 tonnes annually. In the field of electrical and electronic equipment, the province aims to produce 12-15 million electronic components and semiconductor chips by 2025.

Hung Yen Province also prioritizes attracting investment into industrial parks (IPs) with a focus on high-tech and supporting industries. The province has reviewed and assessed the current state, spatial planning, and human resource allocation for industrial development, integrating these aspects into the provincial master plan for the 2021-2030 period, with a vision to 2050. Efforts are being made to promote in-depth development of IPs and implement technical infrastructure support programs for supporting industries, aiming to leverage internal resources, ensure sustainable development, and mitigate adverse market impacts and external investments.

The development of supporting industries in Hung Yen Province has strongly attracted foreign investment in various manufacturing sectors, such as automobile manufacture and assembly, electrical and electronic equipment, and textiles and garments. This has created an environment for fostering production linkages between domestic manufacturers and foreign-invested enterprises, as well as between supporting industry satellites and assembly companies. These linkages serve as a critical foundation for further strengthening production collaboration among different economic sectors in the future./.